Results of a foreign exchange auction hosted by the Reserve Bank of Malawi on June 19 have pushed the maximum selling price of USD1 to MWK1, 063.86 from MWK1, 036 effective Wednesday June 21st 2023.
Malawi’s year-on-year inflation for the month of May stood at 29.2 percent on account of rising food inflation, and experts warn it projects a continued rise in the cost of living and a decline in purchasing power.
The Malawi Investment and Trade Centre (MITC) is optimistic that the country’s exports will increase by 20 percent this year, among others, thanks to exposure of more exporters to international markets.
Malawi Confederation of Chambers of Commerce and Industry (MCCCI) says the 33rd International Trade Fair will be held from May 17 to May 26th 2023 at the Trade Fair Grounds in Blantyre.
Newcomer in the Malawi banking sector Centenary Bank has promised to establish its presence in rural areas which are not fully utilising at the moment, offering microfinance services to communities there.
The Insurance Brokers Association of Malawi (IBAM) says it has agreed with other players in the industry to form an insurance council in order to speak with one voice and strengthen insurance business in the country.